buff22
Short

Strength in the Market Waning- 3x Leveraged Short Play

AMEX:UDOW   PROSHARES ULTRAPRO DOW30
The sideways market looks to be coming to an end, with the odds heavily in favor of a sell off next week. S
mall gains on light volume in the past few days, the general trend of the market, as well as downwards trend line resistance coming up soon, all point to a drop.
Using the strong resistance at 54.40 as an entry point, first target is at $49.10, and the second around $46.50-$46.00.
Short trades will be executed through correlating prices in SDOW             .
Conversely, if the market gains strength and can reach and hold above around $46.70, it would indicate a very strong market and a good chance for a partial recovery into the end of the year. This would be an area in which to take a long.
Just my opinions.

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